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Russia in historic foreign debt default as payment deadline expires

Russia in historic foreign debt default as payment deadline expires

Russia defaulted on its foreign-currency debt for the first time in over a century, culminating in ever-stringent Western sanctions that shut down payment methods to overseas creditors. For months, t... Read more

US Federal Reserve introduces biggest rate hike since 1994

US Federal Reserve introduces biggest rate hike since 1994

The US Federal Reserve approved its most significant interest rate increase in over 25 years to stop a surge in inflation that US central bank officials acknowledged may be eroding public trust in the... Read more

Bank of America to grow corporate cash management through a new tool

Bank of America to grow corporate cash management through a new tool

Bank of America will roll out a new cash management tool to US-based clients to gain market share in the $300 billion cash management business for multi-national corporations. Transaction banking&mda... Read more

An $86B dividend payout threatens to drive the yuan lower

An $86B dividend payout threatens to drive the yuan lower

Having dropped by most on record in offshore trade last month, China’s Yuan is now facing the threat of selling pressure from the country’s companies. According to Bloomberg’s data,... Read more

IBM Chairman elected to New York’s Federal Reserve Bank’s board of directors

IBM Chairman elected to New York’s Federal Reserve Bank’s board of directors

The Federal Reserve Bank of New York elected the Chairman and CEO of IBM, Arvind Krishna, to the Board of Directors. The New York’s Fed said that Krishna was elected as a Class B director to re... Read more

SocGen sells Rosbank to billionaire Potanin’s Interros, to exit Russia

SocGen sells Rosbank to billionaire Potanin’s Interros, to exit Russia

French bank Societe Generale SA will endure a loss of nearly 3 billion euros ($3.3 billion) after agreeing to sell its Roskbank PJSC to Interros Capital, a firm linked to Russian billionaire Vladimir ... Read more

President Biden seeks minimum tax on billionaires as part of 2023 budget

President Biden seeks minimum tax on billionaires as part of 2023 budget

According to a released U.S.White House budget office fact sheet, U. S. president Joe Biden intends to introduce a minimum tax of 20% on households worth more than $100 million and cut projected budge... Read more


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